A LOAN SHARK from North Shields has been ordered to pay back thousands in proceeds of crime monies.

Following a hearing at Newcastle Crown Court on Tuesday, 27th June, Bubpha Curran, 47, of Longston Avenue in North Shields, was given 3 months to pay back over £28,000 in proceeds of crime or face a default sentence of 10 months in prison.

Bubpha Curran received a 12 month suspended prison sentence back in February this year after pleading guilty to illegal money lending and money laundering between March 2012 and February 2016.

Curran was investigated by the England Illegal Money Lending Team (IMLT) who work in partnership with North Tyneside Council’s Trading Standards Department and Northumbria Police.

When a warrant was executed at the loan shark’s home address on 9th February 2016, officers from the IMLT seized notebooks containing loan details and customers bank details, a quantity of luxury watches and over £1,800 in cash.

At an earlier hearing, prosecutor Simon Mortimer told the court how Bubpha Curran had been running an illegal money lending business for a period of almost four years.

The prosecution told Newcastle Crown Court how one victim was making monthly interest repayments of £400 on a £4,000 loan.

The victim had taken out multiple loans from Bubpha Curran over the years to pay hospital fees back in Thailand.

Tony Quigley, Head of Service for the National Illegal Money Lending Team said:

“Another loan shark has been ordered to pay back for the crime that they once committed.

“We are continuing to crack down on illegal money lending and bringing those who break the law to justice. It’s important to remember that loan sharks are only motivated by greed and should never been used.

“If you or someone you know has been the victim of a loan shark, we urge you to get in touch with IMLT on 0300 555 2222. Your call will be handled confidentially by one of our trained officers.”

North Tyneside Councillor, John Harrison, Cabinet Member with responsibility for Trading Standards, said:

“Loan sharks are predators who feed off people’s desperation and exploit some of the most vulnerable people in our communities. This result shows what can be achieved when agencies work closely together and it strikes a blow against illegal money lending in our area.”

Nationally, Illegal Money Lending Teams have secured more than 378 prosecutions for illegal money lending and related activity, leading to nearly 325 years’ worth of custodial sentences. They have written off £71.9 million worth of illegal debt and helped over 26,500 people.

To report a loan shark:

Call the 24/7 confidential hotline 0300 555 2222

Text a report to 078600 22116

Visit the website www.stoploansharks.co.uk

E-mail reportaloanshark@stoploansharks.gov.uk  

Private message us on www.facebook.com/stoploansharksproject